In the face of a global tragedy, the music community has united behind efforts to support those affected. Asia saw overall growth of 3.4%, a slower rate of growth than 2018, but this was largely due to Japan (-0.9%), which saw a decline in physical sales (-4.8%), its dominant format. The overall total is the highest since 2004, when global revenues were $20.3bn. Overall, the industry had a 34% growth in total streaming revenue. In 2019, the increase in streaming revenues compared to the year before was 22.9 percent. Click on the map for the growth figures in each region. The performance of the recorded music business in 2019 is going to heat up interest even further. 1999-2019’ the top album. – Rather than a focus on piracy or the ‘value gap’ – although as a follow-on from the latter debate – the report this year sets out “four pillars of fair marketplaces for music” from the music industry’s perspective. Ariana Grande. The global recorded music market grew by 9.7%, the fourth consecutive year of growth and ahead of last year's 7.4% market increase. It claimed that recorded music revenues grew by 11.4% to $21.5bn in 2019, with streaming up by 24% to $11.9bn. The K-pop industry experienced significant growth last year, according to the International Federation of the Phonographic Industry’s "Global Music Report 2019… – Breaking it down by regions: Asia grew by 3.4% in 2019 (dragged down by Japan – the region grew by 11.5% if it’s excluded); North America grew by 10.4%; Europe by 7.2% – encouraging, as it only grew by 0.2% in 2018; Latin America by 18.9%; and Australasia by 7.1%. The record industry in the US saw an 18 percent increase in revenue — hitting $5.4 billion — in the first six months of 2019. IFPI, the organisation that represents the recorded music industry worldwide, today released the Music Listening 2019 report, which examines the ways in which music consumers aged 16 – 64 engage with recorded music across 21 countries.. Report highlights: Music listening is up. IFPI Global Music Report 2019: Global Music Market Grows for Fourth Consecutive Year According to the IFPI’s Global Music Report 2019 released today, the global recorded music market grew for the fourth consecutive year, increasing by 9.7 percent in 2018 with a total reported revenue of US$19.1 billion. Total revenues for 2018 were $19.1 billion (£14.6bn). The definitive source of recorded music market data, launched May 2020 and covering calendar year 2019. Global growth by region. Please note: We review our revenue forecasts every quarter and update them if necessary. As the music business scraps it out with every other industry for Covid-19 relief, a key part of its argument has been the economic value created by the industry. The global recorded music industry’s streaming revenue has grown steadily from $1 billion in 2012 to $8.9 billion in 2018. – Keep an eye on the deceleration of streaming revenues however: their growth was 60.4% in 2016, 41.4% in 2017, 34% in 2018 and now 22.9% in 2019. At wholesale value, revenues rose 16% to $3.5 billion. Physical sales continued their long decline, but at a slower rate — 5.3% — than in 2018. China remains in seventh, and in fact the only change in the top 10 ordering is Australia and Canada switching places (eighth and ninth respectively in 2019). Read Next: 10 Takeaways From Variety’s Music for Screens Week 2020, Best Songs of the Week: Lil Baby, Juice WRLD and More, Billie Eilish Officially Cancels ‘Where Do We Go?’ Tour, Sony Music Acquires J. Erving’s Human Re Sources Company, Taylor Swift was the world’s top-selling artist, Jax Taylor Fired From Bravo’s ‘Vanderpump Rules’, ‘Black Panther’ Star Letitia Wright Responds After Posting Anti-Vax Video. The expansion of global social media ad revenue hinges on Chinese platforms like TikTok, which account for 50% of growth between 2019 and 2022. Streaming music accounted for 80% of industry revenues. Elsewhere in the region, South Korea, China and India all experienced strong growth, (8.2% 16.0% and 18.7% respectively). We are a truly global music industry. The U.S. recorded music business generated $11.1 billion in revenue in 2019, according to the RIAA's annual year-end report, a 13% year-over-year increase from the $9.8 billion it reached in 2018. 2019 Regional Highlights, per IFPI, include: For the fifth consecutive year, Latin America was the fastest-growing region (+18.9%) with its three largest markets growing strongly: Brazil (+13.1%); Mexico (+17.1%); and Argentina (+40.9%). 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